Goldman downgrades Intel, sees margin pressure

AudeLagorce

LONDON (MarketWatch) -- Goldman Sachs cut its rating on chipmaker Intel, Corp.
INTC, -0.66%
to neutral from buy, saying the company's margins have already peaked for the cycle. The broker told clients that given the high historical correlation between margins and share price for deep cyclicals like Intel, it believes that now is the time to get incrementally cautious on the stock ahead of margin pressures it sees in the first half of 2009.

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